St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-01-09
Notwithstanding the Weather Has Been
Very Cold, Sales of Realty Continue
Active.
St. Peter Street Coming to be First Glass
Business Center and Thorough
fare.
Several Noticeable Instances of the
Large Increase in Values in
Few Months.
Seventh. Jack son, Minnesota, Robert.
Cedar and broadway Property
Coming Forward.

y
days of quiet. This was partly owing to the
intense cold which has prevailed almost con-
tinualy during the past week. The aggre-
gate of the transfers, however notwithstand-
ing the drawbacks referred to. amount to
about the usual half million dollars. The
general tone of the market Judging from
all the information obtainable. is very firm
with decided upward tendency. Not over
three months ago there were plenty of lots
for sale between Third and Seventh. Waba-
sha and jackson streets at from $3.50 to $500
per front foot. Now there is probably not a
single lot i'll that area having depth of 100
feet that can be had for $500 per front foot.
and very little that can be had at less than
500 per front foot. 1t seems to have
struck everybody about the same
time that property was extremely cheap in
that area. Some instances will show how
sharp has been the advance in this terri
tory. Part of lot 10. block 10, fronting on
Fourth. east of Union block. was offered in
the summer at $500 per front foot. 1t sold
last month for 1915 per front foot. and
probably could not be had at $500 to-day.
Seventy-five feet on Fourth street by $50
feet deep. just east of the Club house on
Fourth street, was held at $400 per foot and
and is likely to sell for that figure soon.
The southwest corner of Fourth and Robert
streets. the corner known as the Green
Tree" was bought three years ago for
S23, 600. The owner of the fifty feet on
Robert street. 100 feet deep, within three
months has declined $4,000 for it. or
81 200 per front foot. He would not prob
ably sell to-day at 81 500 per front foot.
The old Willoughby property oppo-
site (the southeast corner of Fourth
and Robert streets. 50x100, is not in
the market. but parties have recently tried
to get some figures Oh it at which the owner
will SELL 1t is said that any offer less
than S75. 600 would not be considered at
all, and that the owner would probably de-
cline anything less than 500. 600, or So. 900
per front foot. The Downing property on
the northeast corner of Fourth and Robert,
is seventy-tive feet front on Robertby 12415
feet deep. 1t is said that an offer of S97. 600
has been made and refused. The southeast
corner of Sixth and Cedar streets. 100X10O
feet. has been sold for $50. 600, and 1t is re-
ported that the parties who bought could
now get $40 900 for the same property and
will not accept it. -Four years ago the plant
of the
ST. PAUL MANUFACTURING COMPANY,
OH the northwest corner of Sixth and &C.
dar streets. 215 feet on Sixth by $50 OH Ce-
Car. with an additional 50X85 next north of
it on Cedar, sold for $50. 900. The owner of
the property declined since Jan. to enter
tan proposition to sci! it for Sl92, 900, or
$500 per front foot for the Sixth street
frontage, and $40, 900 for the 50xS5 strip on
Cedar street. In short. it is not in the
market. An offer of $3.50 per front foot
Cor 20 feet front by so feet deep on the
south side of Seventh street, between Jack
son and Sibley, was made Yesterday and
declined. The New York Life insurance
company, which purchased the southwest
corner of Minnesota and Sixth streets.
100X100 feet square, for $67. 900 cash, could
now take handsome advance if it was dis
posed to sell. That company knew that it
was getting a great bargain when it bought,
and the company proposes as soon as frost
is out of the ground to commence eXcavat-
ing for the finest Office building ever erected
in st. Paul. 1t is said the cost will
be somewhere from $3.50. 600 to S1OO OOO
Charley Miles sold his 5Ox1O0 foot lot on
Jackson street for $4,000, and bought lot
h0X100 feet on the north side of Fifth
street, between jackson and Sibey, Tor
925, 600. The Jackson street sale was the
first one actually made at 81. 600 per foot
and the best judges now say the property
1
ner of Robert and Fifth. 100 feet square,
for 500, 900, is now said by good c0nser-
vative judges to have been one of the cheap
est pieces of business property recently
sold, and it is safe to say that the purchaser
could already realize a handsome advance
should he be disposed TO part with his
choice corner. During the week a sale was
made on Robert, between Ninth and Tenth
streets, in block 10, Robert d Randall's
addition, 50X100, at 1925 per front
foot. The advance in prices is ex-
tending north Of Seventh street and lots on
Cedar. Minnesota and Robert seem to be
looking up very decidedly. There is little
for sale now between Wabasha and Jack
son, Third and Seventh, and there seems
TO be decided movement to get hold of
everything north of Seventh street out as
far as Tenth Street In the business area
east of jackson to Broadway there is also
considerable activity. Lot 4, block z, Whit
ney q Smiths addition. on the northwest
corner of Wacouta and Sixth streets, was
conveyed the last week in December for
$4,000. and yet the same corner was
offered last summer
WITHOUT a BUYER AT $40 900.
In the rear of NoyeS Bros. & Cutters
tsore is some vacant ground extending to
the corner OF Wacouta and Fifth streets
Pinch was offered last summer at $500 per
front foot, and recently the owners have
declined ar offer of $500 per front foot
property on Broadway was offered before
the holidays at $500 per front foot, and
since the 1st of January it has been adj
vanced 40 $500 per front foot. There are
two buyers now, in the dead of winter, to
where there was one last October. Mention
las been made Of the rapid increase in the
value OF St Peter street property. 1t is
rapidly coming to be one Of the most promi-
nent business thOroughfareS in the city, and
prices of realty are decidedly on the adj
vance. Several new business blocks will
be erected on st. Peter street during the
coming summer. There is a good INQUIRY
for Broadway property out as far as Tenth
street. Nearly every man who has
watched the market carefully for two
n three years past has now come to see
that all this inside business property has
been held far below its intrinsic value. The
up town bridge bill has passed into the
senate. The bill for the Broadway bridge
has not been introduced, but probably will
De soon. aud many property holders are adj
Vocatlng II as OF more immediate impOr
lance than the uptown bridge. The in
tense cold Of the past few days has inter-
rered somewhat with suburban acres. but
there is still an active demand for that des-
scriptOn OF realty, ii it is between the two
cities. Several large transactions con-
fracted in December. will be closed during
che present month"; and the record of trans
actions will soon begin to show a consider
able increase. The new year opens with
very bright prospects in the real estate mar
net. and large things may safely be predicted
for 1887. The real estate board has settled
down to business in a large room on rho